Santelli Extra: Here's the next asset bubble

In a Santelli Extra segment exclusive for CNBC Pro subscribers, Rick and his guest Peter Tchir discuss where they see the next asset bubble forming: global corporate debt.

The European Central Bank is buying local investment grade corporate bonds as part of its latest monetary easing plan, a move that will inflate prices there and in the U.S. credit market as well, according to Tchir. With the ballooning amount of global debt now with negative yields, central banks will soon have quite a problem on their hands, he said.

"What all the central banks are doing now has become so complicated, so convoluted. I don't think they are able to manage this," said the managing director of Brean Capital. "I don't think they understand the linkages, and that's when you run into this risk that one day you wake up and no one believes this game anymore."